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SBI Nifty200 Quality 30 Index Fund NFO: SBI Mutual Fund’s new open-ended scheme, the SBI Nifty200 Quality 30 Index Fund, is set to open for subscription on Friday, May 16. The fund house has fixed the minimum investment at Rs 5,000, with subsequent investments allowed in multiples of Re 1. The mutual fund's subscription window remains open until Thursday, May 29.

According to the fund house, the objective of the scheme is to provide returns that closely correspond to the total returns of the securities represented by the underlying index.

However, SBI Mutual Fund clarified that there is no guarantee or assurance that the scheme’s investment objective will be achieved.

Nand Kishore, MD & CEO of SBI Funds Management, said the fund is designed to track the performance of the top 30 companies within the Nifty200 index, selected based on stringent quality metrics such as financial health, profitability, and sustainable growth.

Kishore added that the SBI Nifty200 Quality 30 Index Fund can be a valuable addition for long-term investors aiming to build wealth.

The scheme will invest a minimum of 95 per cent and up to 100 per cent of its assets in stocks comprising the Nifty200 Quality 30 Index. Up to 5 per cent of the assets may be allocated to government securities, including tri-party repos and units of liquid mutual funds.

SBI Mutual Fund has set the minimum initial subscription amount at Rs 5,000, with additional investments allowed in multiples of Re 1. Subsequent purchases can be made starting from Rs 1,000 and in multiples of Re 1.

Initial investment: Rs 5,000 or Rs 5,001, Rs 5,002, etc.)

Additional investments: From Rs 1,000 onwards (e.g., Rs 1,001, Rs 1,002, and so on.)

Investors can choose to invest via SIPs with flexible frequencies—daily, weekly, monthly, quarterly, semi-annually, or annually.

The SBI Nifty200 Quality 30 Index Fund will be managed by Viral Chhadva, who has been with SBI Mutual Fund since December 2020. Chhadva currently handles several passive offerings, including the SBI Nifty50 Equal Weight ETF, SBI Nifty50 Equal Weight Index Fund, and SBI Nifty 500 Index Fund.

(Disclaimer: Zee Business suggests its readers consult their investment advisers before making any financial decision.)

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